Legal Insights
Deadline looming for rectification of non-commercial LRBA loans - get in quick!
As set out in our previous article, the deadline for ensuring non-commercial related party limited recourse borrowing arrangement (LRBA) loans are rectified to reflect commercial terms is 31 January 2017. This date is fast approaching and SMSF trustees must take immediate action to ensure compliance with the ATO’s guidelines set out in PCG 2016/5.
A timely reminder when drafting contracts containing ‘automatic renewal terms’
As set out in our update “Small Business Offered Long Awaited Protection from Unfair Contract Terms”, unfair contract term provisions under the Australian Consumer Law (ACL) have been extended to not only protect consumers from unfair terms, but also parties to a small business contract.
We wish you a Merry Christmas and a happy…new gear!
As has become tradition, particularly in the United States, sports leagues and clubs have been busy unveiling their 2016 Christmas Day uniforms ahead of the festive season.
Changes to Enduring Power of Attorney laws
Some welcome amendments have recently been made to the laws regulating enduring powers of attorney. They improve the operation of enduring powers of attorney.
Equity crowdfunding Bill introduced for start-ups and small businesses
The Turnbull Government has introduced a Bill to facilitate the use of crowd-sourced equity funding by Australian small businesses and start-ups.
Service of family law documents via social media
In a world where the internet and technology have progressed to a place where a relationship can be started with a simple ‘swipe’, ‘like’ or ‘snap’ on social media, it doesn’t seem too hard to believe that a relationship can breakdown over a ‘screenshot’ or ‘instant message’.
Successful prosecution of 'the Ritz' owners
Harwood Andrews has acted for the City of Greater Geelong in a successful prosecution of the owners of ‘the Ritz’ - a prominent heritage listed building located on Bellerine Street, Geelong.
Playing contracts – what happens when they aren’t playing?
Whilst the A-League, NBL and WNBL are in the early stages of their new seasons, the AFL and NRL have wound down for the next 5 months. This means that the players, who have slogged away during the winter months in the chase for a premiership, are enjoying holidays and resting their bodies before the commencement of another arduous pre-season.
Ignorance is no excuse: employer fined for directing workers to join union
A small construction company has been ordered to pay penalties totalling $20,000 as a result of it sending text messages to workers, unlawfully stating they must be union members before commencing work on a construction site.
Small businesses offered long awaited protection from unfair contract terms
From 12 November 2016, small businesses will receive important protection from unfair terms in standard form consumer contracts.
Proposed amendments to “aggregate schemes” under the debt-equity rules
On 10 October 2016, the Federal Government released an Exposure Draft to amend the debt and equity rules in Division 974 of Income Tax Assessment Act 1997 for the purpose of implementing recommendations made by the Board of Taxation in its April 2015 report Review of the Debt and Equity Tax Rules.
Harwood Andrews supports farmers
Harwood Andrews was a gold sponsor of this year’s Mellow in the Yellow fundraising event held on 8 October 2016. One of our senior associates, Euphemie Barr, was on the event committee and helped coordinate various aspects of the event.
Accredited specialist list continues to grow
Harwood Andrews have added another Law Institute of Victoria Specialist to an already impressive line-up of legal professionals.
Oppression remedies for unit trusts
It is an unfortunate fact of life that running a business will not always go smoothly, and occasionally disputes will arise between business owners and business investors. A unit trust is a popular structure for conducting a business, but it has traditionally presented business owners and investors with some difficulty when seeking to resolve their disputes.
Draft laws for the introduction of the 5 year concessional contributions catch-up measure
The Government has released the second round of draft rules for the implementation of the superannuation reform package announced in the 2016-2017 budget, which includes draft legislation for the 5 year concessional contributions catch-up measure.
Proposed draft laws for the introduction of the $1.6 million super pension cap
The Government has released the second round of draft rules for the implementation of the superannuation reform package announced in the 2016-2017 budget. This tranche includes the draft legislation for the proposed $1.6 million super pension cap, which essentially limits the amount that a member can hold in a pension account to $1.6 million from 1 July 2017.
Proposed superannuation budget changes released
The Government has released its second tranche of draft legislation to implement the proposed superannuation budget measures.
Labour hirers and unfair dismissal
Labour hire companies will take some comfort in a recent decision of the full bench of the Fair Work Commission in an unfair dismissal case.
‘G, it’s the Finals!
It’s FOOTY FINALS TIME! With the two Sydney teams, Sydney Swans and GWS Giants, doing battle with Geelong and the Western Bulldogs respectively in this weekend’s preliminary finals, fans will be flocking to both the MCG and Spotless Stadium tonight and tomorrow for the big games
Fair Work Commission calls for further submissions on penalty rates
Many in the community anxiously await the decision by the Fair Work Commission (FWC) on weekend penalty rates. The Full Bench of the FWC recently issued further directions for further evidence to be adduced in order to assist it in coming to a decision. That will mean a final decision will not be made for a number of months.